Resonant Inc. Beats Milestone of 10 Devices Shipped for Royalty Revenues in 2018
January 14 2019 - 6:05AM
Resonant Inc. (NASDAQ: RESN), a leader in transforming the way
radio frequency, or RF, front-ends are being designed and delivered
for mobile handset and wireless devices, announced that it beat its
stated milestone of 10 devices shipped for royalty revenues in
2018, which was more than double the four devices shipped for
royalty revenues in 2017.
These devices include a 5G filter, as well as other high value,
difficult filters. The devices are shipped by Resonant’s customers
and are expected to facilitate the company’s projected growth in
royalty revenues in 2019.
“We beat perhaps the most important milestone for Resonant to
date, exceeding our stated objective to have 10 devices shipped for
royalty revenues by year end, more than double the amount in 2017,”
stated George B. Holmes, CEO of Resonant. “This combined with our
earlier announcement where we beat our objective to have our
customers accept 20 devices as meeting their technical
requirements, including the new requirement in 2018 for passing
handset testing, puts us in a strong position to accelerate royalty
revenue and positions the company well for long-term growth.”
About Resonant Inc.Resonant (NASDAQ: RESN) is
transforming the market for RF front-ends (RFFE) by disrupting the
RFFE supply chain through the delivery of solutions that leverage
our Infinite Synthesized Network (ISN) software tools platform,
capitalize on the breadth of our IP portfolio, and are delivered
through our services offerings. In a market that is critically
constrained by limited designers, tools and capacity, Resonant
addresses these critical problems by providing customers with ever
increasing design efficiency, reduced time to market and lower unit
costs. Customers leverage Resonant’s disruptive capabilities to
design cutting edge filters and modules, while capitalizing on the
added stability of a diverse supply chain through Resonant’s
fabless ecosystem-the first of its kind. Working with Resonant,
customers enhance the connectivity of current mobile devices, while
preparing for the demands of emerging 5G applications.
To learn more about Resonant, view the series of videos
published on its website that explain Resonant's technologies and
market positioning:
- Speeding the Transition to 5G
- Infinite Synthesized Networks, ISN® Explained
- What is an RF Filter?
- RF Filter Innovation
- Transforming the Mobile Filter Supply Chain
For more information, please visit www.resonant.com.
Resonant uses its website (https://www.resonant.com) and
LinkedIn page (https://www.linkedin.com/company/resonant-inc-/) as
channels of distribution of information about its products, its
planned financial and other announcements, its attendance at
upcoming investor and industry conferences, and other matters. Such
information may be deemed material information, and Resonant may
use these channels to comply with its disclosure obligations under
Regulation FD. Therefore, investors should monitor the company’s
website and its social media accounts in addition to following the
company’s press releases, SEC filings, public conference
calls, and webcasts.
About Resonant’s ISN TechnologyResonant can
create designs for difficult bands, modules and other complex RF
Front End requirements that we believe have the potential to be
manufactured for half the cost and developed in half the time of
traditional approaches. ISN is a suite of proprietary mathematical
methods, software design tools and network synthesis techniques
that enable us to explore a much larger set of possible design
solutions that regularly incorporate our proprietary technology. We
then quickly deliver design simulations to our customers, which
they manufacture or have manufactured by one of our foundry
partners. These improved solutions still use Surface Acoustic Wave
(SAW) or Temperature Compensated Surface Acoustic Wave (TC-SAW)
manufacturing methods and perform as well as those using higher
cost manufacturing methods such as Bulk Acoustic Wave (BAW).
Resonant's method delivers excellent predictability, enabling
achievement of the desired product performance in roughly half as
many turns through the fab. In addition, because Resonant's models
are fundamental, integration with its foundry and fab customers is
seamless because its models speak the "fab language" of basic
material properties and dimensions.
Safe Harbor / Forward-Looking StatementsThis
press release contains forward-looking statements, which include
the following subjects, among others: our views on future financial
performance and market share. Forward-looking statements are made
as of the date of this document and are inherently subject to risks
and uncertainties which could cause actual results to differ
materially from those in the forward-looking statements, including,
without limitation, the following: our limited operating history;
our ability to complete designs that meet customer specifications;
the ability of our customers (or their manufacturers) to fabricate
our designs in commercial quantities; our customers’ ability to
sell products incorporating our designs to their OEM customers;
changes in our expenditures and other uses of cash; the ability of
our designs to significantly lower costs compared to other designs
and solutions; the risk that the intense competition and rapid
technological change in our industry renders our designs less
useful or obsolete; our ability to find, recruit and retain the
highly skilled personnel required for our design process in
sufficient numbers to support our growth; our ability to manage
growth; and general market, economic and business conditions.
Additional factors that could cause actual results to differ
materially from those anticipated by our forward-looking statements
are under the captions “Risk Factors” and “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” in
our most recent Annual Report (Form 10-K) or Quarterly Report (Form
10-Q) filed with the Securities and Exchange Commission.
Forward-looking statements are made as of the date of this release,
and we expressly disclaim any obligation or undertaking to update
forward-looking statements.
Investor Relations Contact:Moriah Shilton, LHA
Investor Relations 1-415-433-3777 RESN@lhai.com
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